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Exxon Mobil Q1 profit falls YOY

Exxon Mobil Corp. said its first-quarter normalized net income amounted to 95 cents per share, compared with the S&P Capital IQ consensus estimate of 83 cents per share.

EPS fell 55.4% year over year from $2.13.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.02 billion, a decrease of 56.5% from $9.25 billion in the prior-year period.

The normalized profit margin declined to 6.8% from 9.8% in the year-earlier period.

Total revenue fell 36.9% year over year to $59.23 billion from $93.90 billion, and total operating expenses declined 33.8% on an annual basis to $55.37 billion from $83.62 billion.

Reported net income declined 45.7% from the prior-year period to $4.94 billion, or $1.17 per share, from $9.10 billion, or $2.10 per share.